Gold and Brexit

Brexit is approaching. The result of the vote will influence the gold, but unevenly. A majority vote for remains, will the gold down, and a majority vote to exit will lead gold up.But my opinion is that movements are not of the same magnitude in both directions. Since the beginning of this month gold has regained upward trend, reaching a new high, 1315. This climb was halted by the announcement for suspension Brexit campaign after the attack on parliamentarian Jo Cox, from the camp that supports Britain staying in the EU. After this news, gold retraced in the 1280 zone. Then resumed growth, and ended the week in the 1300 zone. After the new weekend polls, which show an increase in the possibility of remaining in the EU, gold fell again in the 1280 zone. That may indicate that gold could reach here, where a majority vote to stay.
                              If a majority vote for exit, upwards movement could be much larger, until the 1345 or even up to 1400.That’s because gold will be given a new impuls to the upward trend that entered early.In either of the two variants, gold will continue its upward trend. But for a majority vote to exit the movement will be sudden, and if a majority vote to stay, I do not think the movement will descend far below the 1280, maybe in the 1250/60 area, followed by a new attempt to climb above 1315.goldbrexit



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